U.S. Department of Commerce Pledges $4.7 Million to Rail Revitalization Near Oxford
The Chenango Industrial Development Agency has been notified by the U.S. Department of Commerce’s Economic Development Administration (EDA) of its intent to fund the rail revitalization project to restore the Utica to Binghamton rail line south of Oxford that was heavily damaged in the 2006 floods.
Pending meeting the requirements for local funding of $407,000, the EDA has promised $4.7 million toward the project along with the local share to cover the $5.8 million dollar project. U.S. Senator Schumer was instrumental in advocating for the EDA funding, along with support from Congressman Richard Hanna.
The Utica-Binghamton rail route will allow for faster transport of goods through other feeder lines to the southern tier and help alleviate slow traffic on State Route 12. The line would see increased traffic with the development of gas drilling in the southern tier.